While the crypto economy shed billions this week, the total value locked (TVL) in decentralized finance protocols slipped under the $ 200 billion range to $ 196.6 billion. The TVL in defi lost roughly 3.16% during the last day, and the $ 592 billion in smart contract protocol tokens dropped in value by 3.5% over the last 24 hours.
Defi TVL Slips Below $ 200 Billion, Numerous Protocols Shed Billions, Dex Trade Volume Dives
The value locked in defi has slipped under the $ 200 billion mark for the first time since March 16, 2022. At the time of writing the total value locked (TVL) is roughly $ 196.6 billion, down 3.16% during the last 24 hours.
All ten of the top defi protocols, except for Anchor, have seen significant 30-day TVL percentage declines. Curve Finance is down 11.74%, Lido has lost 13.73%, Makerdao shed 16.81%, and Convex Finance has lost 10.59% since last month.
The biggest loser during the last 30 days is the Aave Protocol which lost 21.98% since last month. Curve Finance is the leading defi protocol as it dominates by 9.56% with today’s TVL of around $ 18.8 billion.
The TVL held on Ethereum-based defi protocols still rules the roost today with 55.55% dominance or $ 109.21 billion today. Terra blockchain is the second largest in terms of defi TVL with 14.36% of the $ 196.6 billion. Terra’s TVL today equates to $ 28.23 billion and $ 16.48 billion resides in Anchor.
Behind Ethereum and Terra, in terms of defi TVL size, includes blockchains such as BSC ($ 12.04B), Avalanche ($ 9.38B), and Solana ($ 6.09B).
The top five defi protocols, in terms of defi TVL size, includes Curve, Lido, Anchor, Makerdao, and Convex Finance. Terra’s Anchor Protocol saw a 30 day TVL increase of around 4.15% last month.
Aave version three (v3) saw a significant increase during the last 30 days despite the original shedding 21.98%. Aave v3 has a TVL today of around $ 1.38 billion, up 2,711% since last month.
Statistics show that on Saturday, May 1, 2022, there’s 428 decentralized exchange (dex) platforms with a combined TVL of around $ 61.44 billion. There’s also 142 defi lending protocols with $ 48.87 billion total value locked.
Data further shows that dex trade volume dropped during the month of April. In March dex volume was around $ 117 billion and statistics show that April’s dex trade volume was only around $ 92.18 billion.
What do you think about the value locked in defi slipping below the $ 200 billion range this week? Let us know what you think about this subject in the comments section below.
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